EPFO : Submit documents with in the deadline, a opportunity for higher pension

EPFO : The Employees’ Provident Fund Organization (EPFO) has 3.1 lakh applications awaiting approval for a higher pension. The EPFO has now pushed the deadline for businesses to provide salary information on online platforms to January 31, 2025.

Submit documents online for applying for a pension

EPFO is offering a chance to submit documents online for applying for a pension based on a higher salary. EPFO has additionally requested businesses to reply or refresh details in 4.66 lakh instances where clarification has been requested. EPFO states that this is the final opportunity provided to the companies, as numerous applications remain pending for validation despite multiple extensions. Numerous companies and organizations have also asked to prolong the deadline for submitting salary information. The EPFO initiated this service on February 26, 2023. It was supposed to conclude by May 3, 2023. Subsequently, employees and businesses were provided with an extra four months to submit the application, extending the deadline to June 26, 2023. They have now been provided with their final opportunity.

For this, EPFO initiated the entire procedure

On November 4, 2022, the Supreme Court, in one of its rulings, requested that employees be given the choice of receiving pensions based on higher salaries. Following that, EPFO initiated the entire procedure. Members of the Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) will soon have the option to access their claim funds via e-wallet. In response to a query about withdrawing PF funds from an ATM, Sumita Davara, Secretary of the Union Ministry of Labour and Employment, stated that insured individuals and contributors are keen on knowing how to access their money conveniently.

Withdraw them from any ATM

In instances of automatic settlement, the funds are deposited into the bank account, and members can currently withdraw them from any ATM. He mentioned that now you’re discussing how the claim amount can go straight to the wallet, which is a different matter.